Costco Wholesale's new finance chief Gary Millerchip has made his first big move since taking the CFO role over from a predecessor who'd been in the job for nearly 40 years.
The bulk retailer, where membership is required for shoppers, announced on Wednesday that it was increasing its annual fees for the first time in seven years. Membership prices are increasing by $5 to $65 for the basic Gold Star level in the U.S. and Canada, while the executive membership plan, which offers cash back, will go to $130 from $120 as of Sept. 1.
